TLDR: This company has a high short interest that is only continuing to increase according to Ortex along with a days to cover that has essentially tripled in the last week alone. Fundamentally they are better now than ever before yet are trading at more than a 60% premium from ATHs. Shorts have hammered the stock, and I think an opportunity may have presented itself, if you all agree?
TLDR for the TLDR: This stock is good and has a higher SI than BB and has an extremely auspicious (likely to succeed) business model with innovations that guarantee and justify a price target that is nearly 4x the current share price by EOY.
(Where I got all this info will be listed)
High SI –
Of the shares outstanding the short interest of this stock is 36M shares, 13.12% per the last settlement date, May 14th, BUT the estimated short interest according to Ortex is now 42M shares, a fairly substantial increase from the current (as of last publication) 36M short interest.
Days to cover has increased from the 1s to now 3.32 in just a few days. Which is good because it means if a run-up were to happen then the shorts would have a hard time exiting their position, making a short squeeze more auspicious.
According to Fintel.io, the short share availability has only decreased and stayed today, indicating that very few shorts have covered today even with the price up significantly. This is because the less short shares the brokers have to lend out, the higher amount of short shares that have already been lent out, meaning that the people those short shares have been lent out to have not covered given that the short share availability has done nothing but go down and sideways all of Friday.
Not only does this stock have a high SI but it has increased recently, meaning a squeeze opportunity may be perfectly aligning.
Fundamentally Undervalued –
Most high growth stocks have gotten obliterated since February 16th and this one is no different in that regard. However the fundamentals of this company have only exponentially increased with essentially zero price action reaction.
There is proven manipulation in this stock's price action (imo). Just to name a few of the catalysts the price action practically utterly ignored (ALL of these were after February 16-the peak of high growth); 2 revenue beats, 1 EPS beat, CEO and 3 C-suite members getting LEAPS with share exercisability valuing in the hundreds of millions WITH an exercise price of $7.83 which is ABOVE the current and then stock price, announcement of 5 studies that in the company's own words would act as important marketing events that would likely lead to increased sales, CFO projection of 'substantial double-digit revenue growth' along with his 20-40% YOY operating expense increase projection for the 'next few years' (According to own company estimates as far as sales and adoption profitability chances based on their numbers are likely to come at least one year before analysts are projection ((imo)), MORE bullish insider transactions in the form of the CMO picking up more LEAPS after her original one mentioned above, CEO and COO being awarded tens of millions of dollars in profit in the form of hundreds of thousands of shares 840k to be exact and as of now they have not sold any, new EXTREMELY innovative product confirmation-nanonozzle (imo), added to MSCI index, confirmation of several large sales, several studies proving 100% concordance and increased accuracy of their main product compared to 'gold standard' of the market this company is trying to disrupt, HUGE institutional ownership increase, from around 4-5% at lows up to 15.60% currently.
This document explains more in depth why this company is extremely fundamentally undervalued and WILL do great things in the future.
Interesting Healthcare Revolution –
A higher life expectancy for everyone in the aggregate along with a better quality of life is what would happen should their goal of 'global Sap*** adoption be effectuated. 'Chemotherapeutic drug enhancements' is one of many of the revolutions that we could see specifically because of what this company does. Paraphrasing the CEO, 'we believe that the next big wave of innovation in Biology will derive from optical genome mapping', which is what Bio-na-no Geno-mi-cs, $B-N-G-O's Saphyr does-optical genome mapping, and they do it better than anyone. According to the company itself, >500bp detection in SVs with Saphyr compared to the CMA, FISH, and KT competition is cost effective, requires less hands on time, and has a faster turnaround time. Not to mention it has more accurate readings and has less false positives. LOH and SNV detection are said to be in the works, currently zero of the three competing methods can detect these. Nor can FISH, CMA, or KT detect the wide range of variant classes Saphyr can.
With this knowledge, one wonders why Saphyr has not already been adopted in all 2,500 cytogenetic labs, most of this can be attributed to resistance of change and relatively low academic praise and exposure of Saphyr's capabilities, but with FIVE large clinical studies in the works on NIPT, postnatal screening, hematological malignancies in leukemia and lymphomas, and solid tumor research, that is sure to change all in due time. Not to mention cost per genome reducing from $450-$550 currently to $100 by at maximum 2023 (Saphyr is already cost effective, just imagine how cheap it will be compared to other methods once the price more than halves per genome). Throughput to increase by 14x from the already immense maximum of 5000 genomes per year with the current Saphyr system. Throw in in the nanonozzle release that 'may' include SNV detection and will 'fill in the gaps of what current NGS is missing', and one has a strong case to make that this company will revolutionize healthcare and the entire genomic sector as we know it.
So What? –
I hold 1623 shares and a LEAPS call option-
I plan on yoloing another 10k shares in $B-N-G-O by EOY at the latest.
I will not sell anything for years. I am hodling regardless of what market headwinds come to fruition, in my mind the company will do great things but it is hard to predict when they drop PR and harder to predict when other people will react to it. There is a short squeeze on the horizon and I believe >$10 is the true current fundamental value of the company easily.
If my fellow retards want to burn the shorts of $B-N-G-O then I will lead the charge by yoloing in the rest of the current BP in my account-enough for about 300-400 more shares.
There IS a short squeeze on the horizon and I am willing to hodl with diamond hands for however long it takes. If WSB were to agree then I think I have an idea of what may happen-
LMK what y'all think – is 🚀 $B-N-G-O 🚀 next up?
Need to know terms-
Nanonozzle – innovations or product that would enable 'sequencing capabilities' along with ('maybe') single nucleotide variant detection. Basically when this releases (we don't know when) the stock price will probably go up anywhere from 30%-500% depending on how innovative it is and how much it makes NGS obsolete, which is what the C-suite has implied it will do.
NGS – next generation sequencing, competition with OGM.
OGM – optical genome mapping, what $B-N-G-O's main product -the Saphyr- does.
All my sources can be found in this document (use ctrl f to find them easily).
TLDR for the TLDR for the TLDR: B-N-G-O is good fundamentally, has a high short interest, proven manipulation in the price action, and would be put in a more auspicious position to revolutionize healthcare were we to squeeze the shorts.
Jump To The Original Source